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>> well, there is two, number one, the congress should have an up or down vote on a clean debt ceiling increase so that the american people can hold us accountable if we're not going to be willing to pay our bills, number one, number two -- >> and by cleaning, spending and other things? >> it doesn't include negotiations this way or that way, if we owe the money we pay our bills. and it is not a tactic to work your will in a tough taxing and spending negotiation. but the second one i think is actually more important, the reinstatement of the gephardt rule, and repealed essentially by newt gingrich, our earlier guest and commentator. and what that says, when congress voted on a budget, that includes say spending in iraq or afghanistan or tax cuts that president bush advocated, that by operation of accepting that budget the debt ceiling would be increased or decreased to accommodate the budget that congress voted for. so it takes out the hypocrsy, so the idea of defaulting on the bill can't be part of the equation. >> i spoke to minority leader nancy pelosi, she says in the white house s
>> well, there is two, number one, the congress should have an up or down vote on a clean debt ceiling increase so that the american people can hold us accountable if we're not going to be willing to pay our bills, number one, number two -- >> and by cleaning, spending and other things? >> it doesn't include negotiations this way or that way, if we owe the money we pay our bills. and it is not a tactic to work your will in a tough taxing and spending negotiation. but the...
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>> well, there is two, number one, the congress should have an up or down vote on a clean debt ceiling increase so that the american people can hold us accountable if we're not going to be willing to pay our bills, number one, number two -- >> and by cleaning, spending and other things? >> it doesn't include negotiations this way or that way, if we owe the money we pay our bills. and it is not a tactic to work your will in a tough taxing and spending negotiation. but the second one i think is actually more important, the reinstatement of the gephardt rule, and repealed essentially by newt gingrich, our earlier guest and commentator. and what that says, when congress voted on a budget, that includes say spending in iraq or afghanistan or tax cuts that president bush advocated, that by operation of accepting that budget the debt ceiling would be increased or decreased to accommodate the budget that congress voted for. so it takes out the hypocrsy, so the idea of defaulting on the bill can't be part of the equation. >> i spoke to minority leader nancy pelosi, she says in the white house s
>> well, there is two, number one, the congress should have an up or down vote on a clean debt ceiling increase so that the american people can hold us accountable if we're not going to be willing to pay our bills, number one, number two -- >> and by cleaning, spending and other things? >> it doesn't include negotiations this way or that way, if we owe the money we pay our bills. and it is not a tactic to work your will in a tough taxing and spending negotiation. but the...
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you have the federal deficit, spending cuts, debt ceiling. if the last congress had so many challenges producing a bill to avoid the fiscal cliff do you think this congress will be more productive and if so why? >> you know, i think that remains to be seen. i think that, again, that congressmen need to hear from their constituents and people need to know that, hey, we sent you guys up there to get to work. we mean business. stop all of the partisan bickering. of course, republicans and democrats are always going to have differences on issues. but things of this nature that could cause economic catastrophe, those sorts of things, we should be able to work a lot easier on and that's why i'm up here. i want to work with my republican colleagues. i've reached out to all of my republican colleagues in the north texas area to let them know i want to work with them and i will continue to reach across the aisle, all across the congress working with republicans because i know that it is very important that we do a better job of working together. >> i
you have the federal deficit, spending cuts, debt ceiling. if the last congress had so many challenges producing a bill to avoid the fiscal cliff do you think this congress will be more productive and if so why? >> you know, i think that remains to be seen. i think that, again, that congressmen need to hear from their constituents and people need to know that, hey, we sent you guys up there to get to work. we mean business. stop all of the partisan bickering. of course, republicans and...
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the problem they have now with the debt ceiling is this is again playing roulette. what they have to do is they have to have a caucus united on a simple demand. whatever it is, $1 in spending cuts for every $1 in debt increases, a balanced budget amendment, but something. they also made a tactical throw back. if they do not, they will get rolled. >> charles' advice is thoughtful, but when asked if they would accept $10 for $1, everyone said it was unacceptable. we are in a position where we'd like to take tough positions but we do not like to make tough calls. >> i think we will see something inherently different. i think the president is serious when he says he will not negotiate over the debt ceiling. he should not. this is something that is artificial. >> will the new congress make a difference? more women, more latinos, gays and lesbians. or african-americans, asians. will the makeup of congress make a difference? >> if anything, congress is more polarized because of redistricting. this is part of the problem. >> you do not see a ted cruz of texas and elizabeth
the problem they have now with the debt ceiling is this is again playing roulette. what they have to do is they have to have a caucus united on a simple demand. whatever it is, $1 in spending cuts for every $1 in debt increases, a balanced budget amendment, but something. they also made a tactical throw back. if they do not, they will get rolled. >> charles' advice is thoughtful, but when asked if they would accept $10 for $1, everyone said it was unacceptable. we are in a position where...
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don't use the debt ceiling as leverage. >> one thing i will not compromise over is whether or not congress should pay the tab for a bill they've already racked up. if congress refuses the ability for the united states to pay its bills on time, it could be cat strofk. kristen welker with the president in honolulu. it will be a big change of scenery when he gets back to washington. tell us some of the battles on the horizon for the president. >> reporter: hi, craig. good afternoon. there are three budget battles on the horizon. the one getting the most attention right now is the fight over the debt ceiling and the debt ceiling is like the nation's credit card. the nation has essentially maxed out at this point in time. so congress, the white house will have a bigeb
don't use the debt ceiling as leverage. >> one thing i will not compromise over is whether or not congress should pay the tab for a bill they've already racked up. if congress refuses the ability for the united states to pay its bills on time, it could be cat strofk. kristen welker with the president in honolulu. it will be a big change of scenery when he gets back to washington. tell us some of the battles on the horizon for the president. >> reporter: hi, craig. good afternoon....
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and said earlier he's not going to negotiate raising the debt ceiling with congress. we have to get this done and that the country has to pay its bills and i totally agree we should not default on our bills, jamie. we can't keep raising the debt ceiling and kicking the can down the road. the president said if we don't pay our bills it's going to be catastrophic for the global economy, if we don't balance the budget and stop this spending in washington d.c., that's going to be more c catastroph catastrophic, if washington d.c. doesn't work together-- >> angela, we've had that conversation for two years now, working together and mary anne we're at a point where something's going to have to be done. and even with the new taxes every american pitching in, we can't cover our debts. first of all, what do you think the chances are that the president will do that and what if our country gets downgraded again? what will that mean for the administration? mary anne? >> that can't happen. that can't happen and it's clear that the the president's going to do everything he can and
and said earlier he's not going to negotiate raising the debt ceiling with congress. we have to get this done and that the country has to pay its bills and i totally agree we should not default on our bills, jamie. we can't keep raising the debt ceiling and kicking the can down the road. the president said if we don't pay our bills it's going to be catastrophic for the global economy, if we don't balance the budget and stop this spending in washington d.c., that's going to be more c catastroph...
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the budget and about the debt ceiling. he was very involved in 2011. he's obviously been very involved the last couple of months. if he leaves, i think we could -- it really depends who takes over for him. but i think we're -- i think we're looking at a lot of big issues to face before march and so it's really going to come down to who that person is that takes over. >> yeah, certainly. have to talk a little bit of football because we always talk about the commercials and the super bowl and how much money they bring in. there are reports that it might have the ad sales looking a little less hot, sexy, if you will, this year. are you hearing anything about that? and if so, what's behind it? >> about ad sales? >> yeah. well, no. about the content of them. i mean, remember all the talk about how sexy they are and, look it, i mean, they are painting on naked bodies here and you have, you know, all that. i mean, is there anything to say about the tenor of these sales is changing? >> it certainly seems like it. i also think skin
the budget and about the debt ceiling. he was very involved in 2011. he's obviously been very involved the last couple of months. if he leaves, i think we could -- it really depends who takes over for him. but i think we're -- i think we're looking at a lot of big issues to face before march and so it's really going to come down to who that person is that takes over. >> yeah, certainly. have to talk a little bit of football because we always talk about the commercials and the super bowl...
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with multiple budget crises ahead like the debt ceiling and automatic spending cuts, the continuing budget resolution, the people who watch capitol hill say the partisanship and brinkmanship will be as bitter as ever. cnn's national political correspondent jim acosta explains why. >> reporter: after surviving a failed coup led by his own members beleaguered house speaker john boehner wants to take the same fractured party into battle. in a closed door meeting with house republicans a source in the room tells cnn boehner said he will demand budget cuts larger than any increase in the nation's debt limit. with the fiscal cliff behind us boehner told his members the focus turns to spending. that puts republicans in congress back on the collision course with the white house after the president insisted earlier this week he will not negotiate over the debt ceiling. >> i will not have another debate with this congress over whether or not they should pay the bills that they've already racked up through the laws that they passed. >> reporter: if the president won't come to the bargaining table one
with multiple budget crises ahead like the debt ceiling and automatic spending cuts, the continuing budget resolution, the people who watch capitol hill say the partisanship and brinkmanship will be as bitter as ever. cnn's national political correspondent jim acosta explains why. >> reporter: after surviving a failed coup led by his own members beleaguered house speaker john boehner wants to take the same fractured party into battle. in a closed door meeting with house republicans a...
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ceiling. >> yeah. >> the difference between compromise versus capitulation, part of the, no question, there will be additional compromise but the hard ball fight will be around the debt ceiling and specifically the entitlement reforms that republicans seek with social security and medicare. and the challenge for the president is he willing to play hard ball. since the republicans know right now no other way to play politics. >> i talked to a congressman, from oklahoma, he said that republicans and democrats literally rarely even talk to each other. i want you to take a listen here and we will talk about it on the other side. >> well, what we need to do is drop the label of republican and democrat, do what is best for the country, because we were sent there to represent the people not our party. >> and he goes on to talk about at orientation how they are on separate buses. i mean, it really does sound kwies silly, robert costa. >> it's very easy to the wagon your finger at the political process. but the fiscal cliff has a lot of positive lessons, there are few of them right now, but o
ceiling. >> yeah. >> the difference between compromise versus capitulation, part of the, no question, there will be additional compromise but the hard ball fight will be around the debt ceiling and specifically the entitlement reforms that republicans seek with social security and medicare. and the challenge for the president is he willing to play hard ball. since the republicans know right now no other way to play politics. >> i talked to a congressman, from oklahoma, he said...
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now congress is getting warmed up to battle it out over the budget and how to solve the debt ceiling crisis. one congressman think s mintinga $1 trillion coin can save the day. here is brian todd with that. >> reporter: the president says he won't negotiate with congress over lifting the debt ceiling. >> i will not play that game. >> reporter: republicans say -- >> the president may not want to have this debate but it's the one he's going to have because the country needs it. >> reporter: while they debate over the debate, is there a magic bullet to solve the crisis? try a magic coin. some economists, legal scholars and now even a congressman are suggesting a $1 trillion platinum coin could be minted and the government could use that to pay the debt, avoid default and preempt the debt ceiling crisis. gerald nadler of new york says i'm being absolutely serious. it sounds silly but it's absolutely legal. why do you think it's a good idea right now? >> it's better than government shutdown. it's better than defaulting on the debt. it's better than the bad alternatives. >> reporter: techn
now congress is getting warmed up to battle it out over the budget and how to solve the debt ceiling crisis. one congressman think s mintinga $1 trillion coin can save the day. here is brian todd with that. >> reporter: the president says he won't negotiate with congress over lifting the debt ceiling. >> i will not play that game. >> reporter: republicans say -- >> the president may not want to have this debate but it's the one he's going to have because the country...
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yes, it gets around the legal trick and the blackmail of the debt ceiling. >> if there are any hollywood agents watching, i am working on a trillion-dollar heist film which would be superawesome from the trip to the federal reserve. find my e-mail address. >> the point is, it's a legal way of taking the blackmails away from whoever wants to use it. and then you can have an intelligent, or a proper debate of your level of spending. >> i think it's a fun idea to think about. you think about obama handing if you don't want to do boehner, and give it to republicans, the question is, you have are various ways to bring this up. but there could be a lot of litigation around whether this was actually the intent of the law. you could say actually this was it so that we could issue commemorative coins, say, with bruce springsteen's face on it. >> the general rule of statutory interpretation when you have very specific language that says you may do this, it doesn't matter the reason for it. >> but this is the thing, if it does launch a lot of litigation and challenges, that could be a really, reall
yes, it gets around the legal trick and the blackmail of the debt ceiling. >> if there are any hollywood agents watching, i am working on a trillion-dollar heist film which would be superawesome from the trip to the federal reserve. find my e-mail address. >> the point is, it's a legal way of taking the blackmails away from whoever wants to use it. and then you can have an intelligent, or a proper debate of your level of spending. >> i think it's a fun idea to think about. you...
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ceiling. what did we do? >> well, congresswoman, the reason i laughed and had to stop in the middle of the mcconnell quote is that the idea that the debt or the so-called spiraling debt is the fundamental pre-eminent issue facing us, and if that is the sort of the line in the sand for the 113th, it sounds like you are going to have a hard time getting these o other things addressed if in fact, the narrative is always going to be about debt and spending in some way. >> well, what we have seen is that most americans do see that debt is a concern, and they may not understand all of the details, but they know in their own lives that when they have debt, they are in trouble, and we have to acknowledge it honestly and that there is a problem and acknowledge that the way to solve it is not just to raise taxes or cut spending. sometimes the republicans will say no new taxes and democrats say no cut in spending. so we have to find a middle ground and do it. what we didn't see from the deal that came ou
ceiling. what did we do? >> well, congresswoman, the reason i laughed and had to stop in the middle of the mcconnell quote is that the idea that the debt or the so-called spiraling debt is the fundamental pre-eminent issue facing us, and if that is the sort of the line in the sand for the 113th, it sounds like you are going to have a hard time getting these o other things addressed if in fact, the narrative is always going to be about debt and spending in some way. >> well, what we...
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debt ceiling votes and take us to the brink of defeat once again, which is part of the negotiation, which by the way we never did in our history until we did it last year, i will not play that game. >> he says he wouldn't play that game. but republicans say they will only raise the debt ceiling if there is an equal amount of spending cuts together with the raising of the debt ceiling. he says he is not going to play that game. will he have any choice? >> look, that is the kind of brinksmanship i'm talking about. we should not negotiate on the full faith and credit of a u.s. government. that is crazy. why would we want to put our economy through that? but there are lots of things we can negotiate on. we do have a sequester, we do have the end of the continuing resolution. we have lots of things coming up that will force us to make some of the tough decisions. >> here is what mitch mcconnell wrote on yahoo! news. i'll read about it, he is going after the president. he is the republican leader in the senate. predictably the president is claiming already that his tax hike on the rich is
debt ceiling votes and take us to the brink of defeat once again, which is part of the negotiation, which by the way we never did in our history until we did it last year, i will not play that game. >> he says he wouldn't play that game. but republicans say they will only raise the debt ceiling if there is an equal amount of spending cuts together with the raising of the debt ceiling. he says he is not going to play that game. will he have any choice? >> look, that is the kind of...
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but february or early march, congress will have to vote on raising the debt ceiling, and the differences are not resolved, the country could see a default on the national debt and another potential downgrade on u.s. credit rating. joining me now, judd gregg, co-chair on the campaign to fix the debt. senator greg, thank you for joining me. >> thank you for having me on. >> it's a new year, new congress, but has some old problems, the debt mainly. what will happen this time? >> well, you know, the congress and the president made two efforts here that have been fairly substantive. the 2011 effort reduced discretionary spending by $900 billion and a tax increase of $960 billion, but the big elephant has not been addressed, entitlement spending, that's driving our debt. we're running deficits of over a trillion dollars a year, even after the tax increase, so they will have to come back and address that. i hope they can do it in an orderly way, rather than what we do in recent years. the chances that seem to be slim, the congress and president don't seem to be able to work this out in an order
but february or early march, congress will have to vote on raising the debt ceiling, and the differences are not resolved, the country could see a default on the national debt and another potential downgrade on u.s. credit rating. joining me now, judd gregg, co-chair on the campaign to fix the debt. senator greg, thank you for joining me. >> thank you for having me on. >> it's a new year, new congress, but has some old problems, the debt mainly. what will happen this time? >>...
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you heard him preview this argument that if the nation does not increase its debt ceiling and if this becomes a long, drawn-out battle like the one we saw back in 2011, the economy will suffer greatly for it. so the battle lines are getting drawn, craig. get ready for another big washington with, knockdown, drag-out fight. it sounds like it will be debt ceiling before immigration. >> well, i wouldn't say that. i have been talking to my sources here who say that the president is still very focused on his second term agenda which includes immigration reform and enacting stiffer gun control laws and also some new energy policies in terms of the timeline, the white house is still working all of that out, but they say that the president is determined not to have these budget battles derail or side line his other policy goals. a lot of analysts are looking at the situation and saying it's tough to do that and there are more budget battles that are on the horizon that will take up a lot of time and public attention and consumption. >> kristen welker. honolulu. kristen, thank you so much. we'
you heard him preview this argument that if the nation does not increase its debt ceiling and if this becomes a long, drawn-out battle like the one we saw back in 2011, the economy will suffer greatly for it. so the battle lines are getting drawn, craig. get ready for another big washington with, knockdown, drag-out fight. it sounds like it will be debt ceiling before immigration. >> well, i wouldn't say that. i have been talking to my sources here who say that the president is still very...
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insisted earlier this week he will not negotiate over the debt ceiling. >> i will not have another debate with this congress over whether or not they should pay the bills that they've already racked up through the laws that they passed. >> reporter: if the president won't come to the bargaining table, one stop republican in the senate, john cornyn, says in an op-ed in "the houston chronicl chronicle", "it may be necessary to partially shut down the government." >> democrats warn, watch out. risking government shutdown, risking not raising the debt creeling is playing with fire. >> on this vote, the yays are 354, the nays are 67. >> reporter: a preview of that brinkmanship came in the house, where 67 republicans, including house budget chair paul ryan, voted against $9.7 billion in aid for victims of superstorm sandy. despite the tongue-lashing they got from new jersey governor chris christie. >> shame on you. shame on congress. >> reporter: the fact that the rest of the storm relief is now up in the air until a vote late thermowas a letdown for new york and new jersey lawmakers. even the
insisted earlier this week he will not negotiate over the debt ceiling. >> i will not have another debate with this congress over whether or not they should pay the bills that they've already racked up through the laws that they passed. >> reporter: if the president won't come to the bargaining table, one stop republican in the senate, john cornyn, says in an op-ed in "the houston chronicl chronicle", "it may be necessary to partially shut down the government."...
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republicans have the leverage in the debt ceiling negotiations. >> i will not have another debate with this congress. they should pay the bills they have already racked up. >> he is the president. >> class a statesmanship. >> it is the time to rise. >> will the 113th congress be any less dysfunctional than the 112th? >>> with the fiscal cliff or curve or slope or whatever you want to call it, i'm glad we don't have to have this debate anymore. newly -- with that behind us,
republicans have the leverage in the debt ceiling negotiations. >> i will not have another debate with this congress. they should pay the bills they have already racked up. >> he is the president. >> class a statesmanship. >> it is the time to rise. >> will the 113th congress be any less dysfunctional than the 112th? >>> with the fiscal cliff or curve or slope or whatever you want to call it, i'm glad we don't have to have this debate anymore. newly --...
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republicans have the leverage in the debt ceiling negotiations. >> i will not have another debate with this congress. they should pay the bills they have already racked up. >> he is the president. >> class a statesmanship. >> it is the time to rise. >> will the 113th congress be any less dysfunctional than the 112th? >>> with the fiscal cliff or curve or slope or whatever you want to call it, i'm glad we don't have to have this debate anymore. newly -- with that behind us, newly reelected house speaker john boehner held his first closed door meeting with the 112th caucus to discuss this new year's resolution from president obama. >> i will not have another debate with this congress over whether or not they should pay the bills that they have already racked up through the laws that they passed. >> sources inside the morning's republican caucus meeting say boehner told his members he will again use the debt limit as leverage to cut spending. so here is tea
republicans have the leverage in the debt ceiling negotiations. >> i will not have another debate with this congress. they should pay the bills they have already racked up. >> he is the president. >> class a statesmanship. >> it is the time to rise. >> will the 113th congress be any less dysfunctional than the 112th? >>> with the fiscal cliff or curve or slope or whatever you want to call it, i'm glad we don't have to have this debate anymore. newly --...
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as well as congress to production before we can have agreement to raise the debt ceiling. host: i could be the entire piece by eugene robinson, but i will share the first sentence. guest: it's clearly critical. i understand that solutions by nature are imperfect. but the reality is we have got to do these things that we are talking about. we need to do it in a thoughtful, open, transparent way, not. at the last not i think that is what he's referring to. when you do it up against these deadlines, a way to do business. we talked about it earlier. i hope that running into the deadline on the fiscal cliff is something that congress will take into account as we work on the debt ceiling agreement and that we can get it done before the deadline. remember, you have talked about how president obama, speaker boehner will approach these things, we've got to have people talking to each other and we've got to get to solutions before the 11th hour to avoid that. that is absolutely what we can do. host: we agreed to the debt ceiling limit, 16 $0.40 trillion -- $16.4 trillion, up in the
as well as congress to production before we can have agreement to raise the debt ceiling. host: i could be the entire piece by eugene robinson, but i will share the first sentence. guest: it's clearly critical. i understand that solutions by nature are imperfect. but the reality is we have got to do these things that we are talking about. we need to do it in a thoughtful, open, transparent way, not. at the last not i think that is what he's referring to. when you do it up against these...
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at the top of the list, the debt ceiling which is like the nation's credit card, and it's about to max out. emboldened by his recent tax hike victory, president obama drew a hard line in his weekly address. >> as i said earlier this week, one thing i will not compromise over is whether or not congress should pay the tab for a bill they've already racked up. >> reporter: house speaker john boehner who won re-election to the speakership this week -- [ applause ] >> reporter: told his conference he plans to use the debt limit as leverage to cut spending. in the republican address, representative dave camp echoed boehner. >> our national debt is now over $16 trillion. we're crushing today's small businesses, and the next generation of americans under a mountain of dead. >> reporter: if the fight sounds familiar, it is. during the summer of 2011, the country had its credit downgraded after the president and lawmakers had a bruising fight over the debt limit. on friday, cnbc's jim cramer told andrea mitchell the upcoming partisan battle could have an impact. >> look, first quarter could be d
at the top of the list, the debt ceiling which is like the nation's credit card, and it's about to max out. emboldened by his recent tax hike victory, president obama drew a hard line in his weekly address. >> as i said earlier this week, one thing i will not compromise over is whether or not congress should pay the tab for a bill they've already racked up. >> reporter: house speaker john boehner who won re-election to the speakership this week -- [ applause ] >> reporter:...
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the debt ceiling is the legal limit on the nation's borrowing. in his weekly address, the president says he is taking a hard line on the issue. >> one thing i will not compromise over is whether or not congress should pay the tab for the bill they've already racked up. if congress refuses to give the united states the ability to pay its bills on time, the consequences for the entire global economy could be catastrophic. last time congress threatened this course of action, our entire economy suffered for it. our families and our businesses cannot afford that dangerous game again. >> as you would expect, republicans are also drawing a line despite approving the fiscal cliff compromise. gop lawmakers say it was missing something monumental -- long-term spending cuts. here's a clip of their weekly address. >> the simple truth is that we are in this fiscal mess because washington takes too much of your money and then waists it -- then wastes it. that's the real problem and needs a real solution. we have to make sure washington is accountable for every
the debt ceiling is the legal limit on the nation's borrowing. in his weekly address, the president says he is taking a hard line on the issue. >> one thing i will not compromise over is whether or not congress should pay the tab for the bill they've already racked up. if congress refuses to give the united states the ability to pay its bills on time, the consequences for the entire global economy could be catastrophic. last time congress threatened this course of action, our entire...